Parag Parikh Flexi Cap Fund Doubles Exposure to Indraprastha Gas and Mahanagar Gas in May 2026

Parag Parikh Flexi Cap Fund, India's largest active equity mutual fund with assets under management (AUM) of around ₹1.42 lakh crore, did not add any new stock to its portfolio in May. Instead, the fund increased exposure to several existing holdings across city gas distribution, banking, and information technology sectors. 

The fund's buying activity was concentrated in selecting existing investments while maintaining its low-turnover investment strategy. 

City Gas Stocks Witness Largest Increase 

The biggest portfolio additions during May were in Indraprastha Gas Ltd (IGL) and Mahanagar Gas Ltd (MGL), where the fund more than doubled its holdings. 

The fund increased its holding in Mahanagar Gas from 3.76 lakh shares to 8.99 lakh shares, a rise of 139.2%. Holdings in Indraprastha Gas increased from 3.79 crore shares to 8.79 crore shares, representing a 132% increase. 

Following the purchases, IGL's portfolio weight increased from 0.45% to 1%, while MGL's allocation rose from 0.03% to 0.07%. 

ITC, Banking and Technology Stocks Also See Higher Allocation 

Apart from city gas companies, the fund also increased its exposure to several large-cap holdings. 

The holding in ITC increased from 24.32 crore shares to 28.79 crore shares, representing an increase of 18.4%. 

The fund also added to its positions in ICICI Bank, HDFC Bank, Kotak Mahindra Bank, Infosys, Indian Energy Exchange, HCL Technologies, CMS Info Systems, Maharashtra Scooters, and Bajaj Holdings & Investment during the month. 

Cipla Only Stock to Witness Reduction 

Among existing holdings, Cipla was the only stock where the fund reduced its exposure. 

The shareholding declined from 1.43 crore shares to 1.40 crore shares, reflecting a 2.26% reduction. No stock was completely exited from the portfolio during May. 

Holdings in Axis Bank, Maruti Suzuki, Bharti Airtel, Tata Consultancy Services, Dr. Reddy's Laboratories, Zydus Wellness, Narayana Hrudayalaya, and Central Depository Services (India) Limited remained unchanged. 

Conclusion 

Parag Parikh Flexi Cap Fund maintained its existing investment strategy in May by increasing allocations to select domestic holdings rather than introducing new stocks. The largest additions were seen in IGL and MGL, while the fund also increased exposure to ITC, banking and technology companies and continued to maintain a liquidity buffer of nearly 15% of assets. Additionally, the overseas portfolio remained unchanged, with holdings in Alphabet, Amazon, Meta Platforms and Microsoft seeing no activity during the month. 

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Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.  

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